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Income Tax - In todays environment, start-ups are crucial as they focus on innovation, lead to employment generation and promote research and development. As per recent study conducted by IBM and Oxford, 90% of India’s start-ups fail within the first five years despite Indias entrepreneurial strengths....
Read MoreIncome Tax - Application for obtaining certificate of start-up recognition can be filed I) during application process of Intellectual property rights (IPR) i.e. Patent, Trademark, Copyright, Design etc. or ii) after obtaining certificate of registration. ...
Read MoreIncome Tax - Now Private Companies (Start-up only) are not required to provide Cash Flow Statement along with financial statements. For the purposes of this Act, the term 'start-up' or "start-up company" means a private company incorporated under Companies Act...
Read MoreIncome Tax - Various tax exemptions have been given to Startups in the recent past – Following direct tax incentives were provided in Income-tax Act,1961 (‘the Act’) to promote Start-ups through Finance Act,2016: Introduction of new section 54EE in Income-tax Act, 1961 to exempt investment of long term capital gains by an investor in a fund ...
Read MoreIncome Tax - Startup India is an initiative of the Government of India, which is intended to build a strong eco-system for nurturing innovation and Startups in India that will drive sustainable economic growth and generate employment opportunities for young talent in India....
Read MoreIncome Tax - Through its Major Schemes, Department of Financial Services is ensuring financial inclusion, providing social security to the people as well as providing credit to various sections of the society. The major achievements of various schemes under the Department are highlighted below...
Read MoreIncome Tax - Start-up Initiative: a Fund of Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups has been Established to be Managed by SIDBI...
Read MoreIncome Tax - Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2013, and include following...
Read MoreIncome Tax - Startup India Portal and Mobile App: These have been launched as online platform for providing updates, information, recognition and eligibility certificates to Startups and other stakeholders...
Read MoreIncome Tax - Startup Recognition: Till date (18.7.2016), 728 applications have been received for Startup Recognition. Out of them, 180 applications are complete and are recognised as a startup by DIPP. For remaining applications, Startup India Hub provides handholding support to facilitate recognition of more and more Startups....
Read MoreHCL Technologies BPO Services Ltd Vs ACIT (ITAT Delhi) - In the case of HCL Technologies BPO Services Ltd vs. ACIT, ITAT has held that for transfer pricing only amount retained by associates from end user is to be taken into account for transfer pricing adjustment, and to adjust operating cost by excluding abnormal cost incurred on a/c of Startup Company ...
Read MoreNotification No. G.S.R. 501 (E) - (23/05/2017) - In order to obtain tax benefits, a Startup should – i. be a private limited company (as defined in the Companies Act, 2013) or a limited liability partnership (as defined under the Limited Liability Partnership Act, 2008) which is incorporated on or after the 1st day of April, 2016 but before the ...
Read MoreCircular No. CAIU/011/(34)2016/3806 - (16/05/2017) - For the first year of setting up of the Start-ups such establishments may not be inspected under any of the 6 Labour laws (viz. BoCW Act, ISMW Act, Payment of Gratuity Act, Contract Labour Act, EPF Act and ESI Act). These start-ups may be asked to submit an online self-declaration instead....
Read MoreA.P. (DIR Series) Circular No. 13 - (27/10/2016) - It is therefore decided, in consultation with the Government of India to permit AD Category-I banks to allow Startups to raise ECB under the following framework:...
Read MoreG.S.R. 704(E) - (19/07/2016) - Provided further that a startup company, as defined in notification number GSR 180(E) dated 17th February, 2016 issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India, may issue sweat equity shares not exceeding fifty percent of its paid u...
Read MoreRBI/2015-16/430 A.P. (DIR Series) Circular No. 77 [(2)/10(R)] - (23/06/2016) - In line with the Government of India’s startup initiative, it has been decided that an Indian startup, having an overseas subsidiary, may open a foreign currency account with a bank outside India for the purpose of crediting to the account the foreign exchange earnings out of exports/sales made by...
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Notification No. G.S.R. 501 (E) - (23/05/2017) -
Circular No. CAIU/011/(34)2016/3806 - (16/05/2017) -
